Luxury of time long past, USG needs to wake, fast.
Biggest, Almost Exclusive Customer/Related Party “Shenghe” is Ultimately Controlled by China’s Treasury Department
We have a few questions for MP and also the regulators:
• Did MP ever disclose that Shenghe is ultimately controlled by China’s Treasury Department?
• Did the Department of Defense know that MP’s 99%+ revenue customer and ~10% shareholder Shenghe is ultimately controlled by China’s Treasury Department?
• Did the regulator(s) approve the $20.5 million Mountain Pass mine purchase back in 2017 knowing that Shenghe is ultimately controlled by China’s Treasury Department?
• Since the United States needs to import rare earth products, why does MP sell 99%+ of its products to Shenghe which eventually sells to other end customers in China?
• It appears MP is allowed to sell its products to customers other than Shenghe, why does Shenghe still account for 99%+ of MP’s revenues in recent quarters?
Very similar Chinese strategy in place companies like ARU & GGG, ~10% equity purchased at low prices, little to no further capital contributions, but foundation offtakes in place, watching, waiting, companies like ARU & NTU have even put Chinese Directors on the Board.
LYC Price at posting:
$7.28 Sentiment: Hold Disclosure: Held
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